The changing landscape of international payments

Ralph Dangelmaier and Debbie Smart

Journal of Payments Strategy & Systems, 2009, vol. 3, issue 1, 51-59

Abstract: Many changes that impact international payments are occurring in the financial industry. This paper reviews the growth in global payments, examines the complexities of cross-border payments and looks at the many regulatory and industry challenges faced by banks and companies. The paper discusses new opportunities for financial institutions, such as remittances, open account trade and globalisation. It also considers the challenges in dealing with disparate payment systems and processing silos, and current trends towards streamlining and improving those processes. Finally, the paper discusses how payments hubs and enterprise risk management systems can streamline financial institutions' operations and reduce risk, resulting in opportunities for increased business and revenue growth.

Keywords: international payments; cross-border payments; enterprise risk management; payment hubs; remittance; trade finance (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2009:v:3:i:1:p:51-59

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